tax preparation and planning

Tax Planning

At Allegra Financial we know that proactive and diligent tax planning is critical to reducing your tax liabilities.  When you work with us we make tax planning part of your overall financial strategy and not just something we do at year-end.

You can be confident that our firm is on top of any current developments pertaining to the ever-changing tax laws.  We watch emerging tax developments by reviewing proposed legislation and regulations, new laws, and IRS rulings.  We communicate with you about how these changes might affect your business matters and overall tax liabilities.  Our advice is always up-to-date.  We offer practical, proactive, and innovative solutions to tax planning that put your business or personal needs first.  We provide our individual and business clients with the tax expertise and knowledge they deserve year round.

We consult with you on the best plans and strategies for operating in an efficient and advantageous tax manner.  We understand the tax implications of proposed transactions and can help you evaluate the most tax efficient methods for managing these transactions.

Additionally, there are several basic tax-cutting strategies that we will consider for your individual and business planning needs, such as:

•Splitting income among several family members or legal entities.

•Shifting income from one year to another in order to have it fall where it will be taxed at a lower rate.

•Shifting deductions from one year to place them where the tax benefit will be greater.

•Deferring liability through certain investment choices and through pension plan contributions.

•Helping you choose the correct business entity that will achieve the best overall savings for both   income and FICA taxes.

•Growing and preserving your assets by keeping Uncle Sam out of your pockets.

We encourage you to consult frequently with us during the year so that we may at all times be kept current with your financial matters and estimate potential tax liabilities of your transactions.  This will enable us to proactively strategize for purposes of minimizing your overall tax liabilities.  Many clients also prefer periodic income tax and financial meetings that may be quarterly, semi-annually, or annually.  The nature and frequency of such tax planning meetings is uniquely tailored to the nature and complexity of the particular client.


Tax Preparation

Because tax regulations change constantly, filing tax reports can be complex.  So we help our clients by providing tax preparation services and prepare individual, business, and organizational federal and state returns, based on our interpretation of the current government tax laws, regulations, rulings, and judicial precedents. We ensure that you file these reports in a timely manner in order to avoid costly penalty and interest charges from missed deadlines or unknown filing requirements.  With constantly changing tax legislation, we regularly evaluate the best methods to minimize your tax liability.  We want to make sure that you take advantage of the tax incentives that apply to your specific situation.

Please be aware that we file tax returns in all 50 states and Canada.  We also provide E-Filing.  Furthermore, we also prepare all required city income tax, franchise tax, sales tax, business license tax, and payroll tax returns for individuals, corporations, partnerships, and limited liability companies.

Along with our tax preparation services, we provide consulting and advisory services to answer your questions throughout the year.  We will also put you on our mailing list to receive timely tax, business, and financial advice.

*This information is not intended to be a substitute for specific individualized tax advice as individual situations will vary. Tax services are not provided by Cambridge Investment Research, Inc.

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